Hektar Real Estate Investment Trust · MYX:HEKTAR
Hektar Real Estate Investment Trust — Q4 2024 Earnings Presentation
25 slides from Hektar Real Estate Investment Trust's earnings presentation, Feb 26, 2025
Slide 1: Hektar REIT 4Q24 Results Presentation
Creating The Places People Love HEKTAR REAL ESTATE INVESTMENT TRUST 4Q24 Results Presentation 26 February 2025
Slide 2: Hektar REIT: Malaysia's First Retail-Focused REIT
Hektar REIT: Malaysia’s First Retail-Focused REIT 2 Diversifying while maintaining our retail-centered niche ORGANISATION GEOGRAPHICALLY WELL-DIVERSIFIED DISCLAIMER: The material that follows is a presentation of general background information about the activities of Hektar REIT (including Hektar RE
Slide 3: Table of Contents
Table of Contents 3 01 Financial & Portfolio Highlights 02 Portfolio Performance 03 Portfolio Updates 04 2025 Key Initiatives
Slide 4: Financial Highlights
4 Financial Highlights
Slide 5: Financial & Operational Summary
Financial & Operational Summary 5 Financial Performance (2024) vs Previous Year (2023) Gross Revenue RM124.8 million (+11.9% Y-o-Y) Net Property Income RM62.9 million (+4.7% Y-o-Y) Realised Net Income RM19.9 million (-20.4% Y-o-Y) Debt Maturity Profile 91.8% of Debt maturing from 2027 onwards Divide
Slide 6: Performance Summary
Performance Summary 6 4Q24: Oct-Dec 2024 | 3 Months FY24: Jan-Dec 2024 | 12 Months RM' '000 11.9% RM '000 9.1% 140,000 35,000 124,804 30,041 120,000 111,497 30,000 27,534 100,000 4.7% 25,000 (8.0%) 80,000 20,000 62,885 60,046 (20.4%) 15,000 13,954 4.0% 60,000 12,844 10,000 40,000 25,104 19,992 5,000
Slide 7: Financial Highlights: Debt Summary and Expiry Profile
Financial Highlights 7 EXPIRY PROFILE 2024-2033 DEBT SUMMARY As at 31 December 2024 RM549.0 MIL Total Debt RM598.3 million [FY2023: RM562.2 million] Effective Cost 5.03% RM19.2 MIL RM4.2 MIL RM25.9 MIL [FY2023: 4.66%] 2024 2025 2026 2027 - 2033 Gearing Ratio 41.72% [FY2023: 42.76%] Funding Compositi
Slide 8: Income Statement FY24
Income Statement FY24 8 As at As at Income Statement 31.12.2023 31.12.2024 Variance FY 24 (RM '000) (RM '000) (%) Revenue 111,497 124,804 11.9% Direct Cost & Property Expenses (51,451) (61,919) (20.3%) Net property income (NPI) 60,046 62,885 4.7% Income from Fund Placement & Others 2,261 1,869 (17.4
Slide 9: Balance Sheet FY24
Balance Sheet FY24 9 As at As at Balance Sheet 31.12.2023 31.12.2024 Unit Statistics As at 31 Dec 2024 (RM '000) (RM '000) Non-current Assets Investment properties 1,232,700 1,391,644 Plant & Equipment 414 469 No. of Unit 709,286,684 1,233,114 1,392,113 Current Assets Trade receivables 3,511 4,787 O
Slide 10: Portfolio Performance
10 Portfolio Performance Committed Occupancy at 86.0% ► Positive Rental Reversion of 6.3% in Q42024 ► Positive rental reversion was recorded for the second consecutive year, with a 5.7% increase reported for FY 2024. ►
Slide 11: Portfolio Occupancy – Committed Occupancy at 86.0%
Portfolio Occupancy – Committed Occupancy at 86.0% PRIVATE & CONFIDENTIAL 11 Previous Occupancy 87.2% 87.2% Actual Occupancy 4Q24 86.7% 85.6% 86.0% Committed Occupancy 4Q24 84.0% 82.0% 4Q24/ FY22 FY23 1Q24 2Q24 3Q24 CO Occupancy FY24 Subang Parade 70.3% 74.3% 75.0% 75.5% 77.5% 84.1%▲ 88.1% Mahkota P
Slide 12: 4Q24 Rental Reversions At 6.3%
4Q24 Rental Reversions At 6.3% PRIVATE & CONFIDENTIAL 12 ▪ 44 new/renewed tenancies consisting of 12.7 % of total NLA for the quarter ended 31 December 2024. ▪ Strong positive reversions were observed at all malls, except for Central Square due to different tenancy structure versus the lot’s outgoin
Slide 13: 5.7% Rental Reversion for FY24 Showing a Robust Growth
PRIVATE & CONFIDENTIAL 13 5.7% Rental Reversion for FY24 Showing a Robust Growth ▪ For the year 2024, a total of 144 tenancies consisting of 34.1% of total NLA were added/ renewed. All malls recorded an increase over previous rent rates. ▪ The strong positive rental reversion highlights our strategi
Slide 14: Tenancies Expiry Well Distributed
Tenancies Expiry Well Distributed PRIVATE & CONFIDENTIAL 14 ▪ In 4Q24, a total of 44 tenancies this year covering 260,818 sq. ft. have been renewed / added representing 12.8% of total NLA. ▪ 1,052,729 sq. ft. or about 51.7 % of total NLA expiring in 2024, of which 695,603 sf sq. ft / 34.1% of NLA ha
Slide 15: Marketing Initiatives
Marketing Initiatives PRIVATE & CONFIDENTIAL 15 Zubir Khan Artist Performance, Segamat Central Dart Master, Segamat Central Christmas Celebration, Subang Parade Muda Mudi Festival, Central Square Basketball Competition, Kulim Square Hobbies Festival, Mahkota Parade
Slide 16: Refreshed Retail Offerings at Hektar Malls
PRIVATE & CONFIDENTIAL Refreshed Retail Offerings at Hektar Malls Game On Theme Park, Subang Parade Mokky’s Pizza, Subang Parade Padi House, Subang Parade Cha Tra Mue, Mahkota Parade Rasa Sayang, Kulim Central Syok Kart, Central Square Chagee, Mahkota Parade Mica, Subang Parade
Slide 17: CSR Initiative – CSR Day 2024
PRIVATE & CONFIDENTIAL 17 CSR Initiative – CSR Day 2024 Back To School CSR Program, Subang Parade
Slide 18: 2025 Key Initiatives
PRIVATE & CONFIDENTIAL 2025 Key Initiatives
Slide 19: Subang Parade Asset Enhancement Initiatives (AEIs)
PRIVATE & CONFIDENTIAL Subang Parade Asset Enhancement Initiatives (AEIs) AEIs targeted to be completed by 1H2027 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 1Q27 2Q27 Detailed Design Development 3 months Authority Approval 6 months Current Stage Phase 1 - Interior Works Phase 2 – Main En
Slide 20: Subang Parade Repositioning – Phase 1 (Interior Works)
PRIVATE & CONFIDENTIAL Subang Parade Repositioning – Phase 1 (Interior Works) • The renders below are Post Design Development Stage, in which works are expected to be completed by 1Q26 Toilets Art Gallery / Entrances
Slide 21: Subang Parade Repositioning – Phase 1 (Interior Works) - Continue
PRIVATE & CONFIDENTIAL Subang Parade Repositioning – Phase 1 (Interior Works) - Continue • The renders below are Post Design Development Stage, in which works are expected to be completed by 1Q26 Corridors / Event Spaces Lift Lobbies
Slide 22: Business Development (Acquisition Pipeline)
PRIVATE & CONFIDENTIAL Business Development (Acquisition Pipeline) REQUIREMENTS FOR ACQUISITION Retail • Average 7.0% yield • < 15 years of building age • ≥ 90% occupancy rate PENANG & KEDAH • Industrial Industrial • Education • Average 7.0% yield • Triple Net Lease • ≥ 15 years lease PERAK • Retail
Slide 23: New Acquisition – Industrial Property Located in Penang
PRIVATE & CONFIDENTIAL New Acquisition – Industrial Property Located in Penang • The industrial asset is located within Bayan Lepas Free Industrial Zone, Phase IV and located about 17km to the southwest of George town City Centre. In addition, the asset is located within the free industrial zone in
Slide 24: Solar Panels Implementation from Q3 2025 onwards
PRIVATE & CONFIDENTIAL Solar Panels Implementation from Q3 2025 onwards • Hektar REIT partners with a Solar Panels Investor for 20-Year Zero-Capex Solar Initiatives across Portfolio. • The signing of agreement is expected to be completed in 1Q25. Segamat Central Subang Parade Transaction Details Dat
Slide 25: Investor Communications
25 Creating The Places People Love Investor Communications Hektar Asset Management Sdn Bhd Tel: +6 03 6205 5570 Web: www.HektarREIT.com Email: ir@HektarREIT.com
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